The stochastic Economic Lot Scheduling Problem: cyclical base-stock policies with idle times
Article Abstract:
A discussion of stochastic Economic Lot Scheduling Problems is presented. A class of cyclical base-stock strategies has been proposed. Furthermore, a strategy within this class which can minimize holding, backlogging and setup costs can be determined and relevant performance measures can be evaluated using a 486-based personal computer. The proposed class of cyclical base-stock strategies is simple but rich and effective in cases such as when the facility is assigned to a given item; production continues until either a specific target inventory level is attained or a specific production batch has been finished and the different items are made in a given sequence or rotation cycle. Comparisons with several alternative production systems have also been made to characterize the price that is to be paid for different sources of uncertainty or shared capacity units.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1996
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The impact of adding a make-to-order item to a make-to-stock production system
Article Abstract:
A complete spectrum of strategies on how to prioritize the Make-to-Order (MTO) item through the production of the Make-to-Stock (MTS) items are presented. These settings comprise the Stochastic Economic Lot Scheduling Problems where various items have to be manufactured under conditions of limited capacity and significant uncertainty. The options allow various cost and performance measures, which include inventory level and waiting-time distributions, average setup, holding and backlogging costs, to be evaluated and optimized efficiently using analytical methods. Results reveal that the existence of efficient analytical techniques allows firms to address the effect of standardization or product line diversification on manufacturing performance.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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Probablistic analysis of a combined aggregation and math programming heuristic for a general class of vehicle routing and scheduling problems
Article Abstract:
The authors analyzed a heuristic using customer characteristics to generate a program to assist in vehicle routing and scheduling. Characteristics, problems, and numerical issues included in the analysis are discussed.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1997
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